So the Chancellors done his worst and increased National Savings, VAT and more- at least until after the next election! And theres not a lot we can do about it - or is there?
Here at moneymaxim we are seeing customers make real and substantial changes in their outgoings through a few small changes - check out our Beat the Budget article on our website today, and see where our customers are saving most. We have a growing number of customers in our £1000 savers club - could you be the next!
Finally remember a pound not spent is worth a lot more than a pound earned - especially with National Insurance rates rising!
Thursday 10 December 2009
Monday 7 December 2009
British Gas lead prices down - will others follow?
After a period of relative calm on the energy price front British Gas has revised its Websaver product resulting in it being the price leader in almost half the countries distribution areas. Good news for customers at this stage of the winter, as those moving now will get the reduction during the coldest time of the year.
However is this a cynical move on the day Ofgem tasked the energy companies with reducing prices to reflect the lower prices they have been paying for wholesale fuel recently? Well the tariff does have pretty high cancellation fees at £30 a fuel if you want to cancel - although these only apply until June, whilst the discounts last until February 2011. And whilst it is cheaper in some areas it in not that competitive in others. But overall we feel its a step in the right direction, and further evidence that the lumbering giant of the energy world has woken up to the fact that it does need to be competitive on price as well as relying on its brand!
Will others move down too? Ofgem demanded action in the New Year, and it would not surprise us if others dug their heels in until February, well knowing that by then the biggest energy spend of the year has been done, and any reductions will have far less impact on our pockets - and their income!
We suggest looking now at the savings on offer and move now if you want to maximise your winter savings. Check now on our energy calculator pages
However is this a cynical move on the day Ofgem tasked the energy companies with reducing prices to reflect the lower prices they have been paying for wholesale fuel recently? Well the tariff does have pretty high cancellation fees at £30 a fuel if you want to cancel - although these only apply until June, whilst the discounts last until February 2011. And whilst it is cheaper in some areas it in not that competitive in others. But overall we feel its a step in the right direction, and further evidence that the lumbering giant of the energy world has woken up to the fact that it does need to be competitive on price as well as relying on its brand!
Will others move down too? Ofgem demanded action in the New Year, and it would not surprise us if others dug their heels in until February, well knowing that by then the biggest energy spend of the year has been done, and any reductions will have far less impact on our pockets - and their income!
We suggest looking now at the savings on offer and move now if you want to maximise your winter savings. Check now on our energy calculator pages
Wednesday 2 December 2009
Ryanair card fees - change for the better or another moneymaking scam!
So Michael O'Learys latest move is to ditch Electron cards in favour of Prepaid Mastercard Credit Cards as the only fee free way to pay for flights on Ryanair - is this a good move for the consumer or just a way of increasing the companies income at a time of economic hardship?
On the face of it there is little to applaud in the move.
Giving a months notice does let those who are aware of Ryanairs plans time to apply for an alternative card, but there will be many who won't take action quickly enough, especially at Christmas - and as a third of Ryanairs 60 million tickets are currently bought using Electron I am pretty sure that Ryanairs income from this area will rise in the early months of 2010.
Then there is the lack of consumer protection - Prepaid cards basically offer the same protection when buying something as cash - none - so consumers will loose the ability to look to their card provider if the airline fails (and unlike bank accounts these cards are not part of the depositors protection schemes).
Then there are the under 18s - cardholders need to be 18 to hold a Prepaid mastercard.
Then there are fees - even our recommended card - the CaxtonFX Global Traveller charges £1.50 for a UK transaction (although unlike the next best ICE card does not charge a 2% loading fee). The CaxtonFX card also has no annual fees, or application costs. For our full article please read our 'Beat the Ryanair surcharge article' in moneymaxim articles section.
Also the minimum amount you can credit a card is £100, which means you may well be left with a surplus balance on the card earning no interest.
So is there an upside?
The only ones we can think of is that the personal checks carried out before a card is issued looks more at anti fraud than credit rating, the cards are easy to get hold of, and the card is a reasonable back up when abroad (but not as good as a prepaid card in Euros or US dollars if thats where you are travelling to)..buts thats pretty small consolation. (See our travel money abroad article for more details)
However they are certainly a better option that paying Ryanair £10 per round trip ticket, and as part of the O'Leary strategy is probably to make us wonder if its just easier to pay them the fee....
That makes it worth it on its own - and we are applying for ours today!
CaxtonFX Prepaid Mastercard
On the face of it there is little to applaud in the move.
Giving a months notice does let those who are aware of Ryanairs plans time to apply for an alternative card, but there will be many who won't take action quickly enough, especially at Christmas - and as a third of Ryanairs 60 million tickets are currently bought using Electron I am pretty sure that Ryanairs income from this area will rise in the early months of 2010.
Then there is the lack of consumer protection - Prepaid cards basically offer the same protection when buying something as cash - none - so consumers will loose the ability to look to their card provider if the airline fails (and unlike bank accounts these cards are not part of the depositors protection schemes).
Then there are the under 18s - cardholders need to be 18 to hold a Prepaid mastercard.
Then there are fees - even our recommended card - the CaxtonFX Global Traveller charges £1.50 for a UK transaction (although unlike the next best ICE card does not charge a 2% loading fee). The CaxtonFX card also has no annual fees, or application costs. For our full article please read our 'Beat the Ryanair surcharge article' in moneymaxim articles section.
Also the minimum amount you can credit a card is £100, which means you may well be left with a surplus balance on the card earning no interest.
So is there an upside?
The only ones we can think of is that the personal checks carried out before a card is issued looks more at anti fraud than credit rating, the cards are easy to get hold of, and the card is a reasonable back up when abroad (but not as good as a prepaid card in Euros or US dollars if thats where you are travelling to)..buts thats pretty small consolation. (See our travel money abroad article for more details)
However they are certainly a better option that paying Ryanair £10 per round trip ticket, and as part of the O'Leary strategy is probably to make us wonder if its just easier to pay them the fee....
That makes it worth it on its own - and we are applying for ours today!
CaxtonFX Prepaid Mastercard
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